Marijuana shares have been broadly decrease Thursday, with a key sector tracker falling into correction territory, but MedMen Enterprises Inc. was a standout gainer after the corporate introduced a $682 million acquisition of U.S.-based medical hashish dispensary PharmaCann LLC.

misplaced zero.eight%, with 25 of 37 elements dropping floor, placing the pot-sector tracker in peril of a third-straight decline. The ETF has now misplaced 12% because the Sept. 20 document shut of $43.01. Coincidentally, the S&P 500 index

misplaced 2.2%, and have plunged 37% since closing at a report $214.06 on Sept. 19. The firm stated late Wednesday it closed on its $450 million debt offering, convertible into Class 2 widespread inventory, in a personal placement to “qualified” institutional consumers within the U.S. and Canada.

was in talks to purchase an fairness stake the Canada-based hashish producer.

The inventory was down as a lot as 6.7% earlier within the session, earlier than bouncing, after the corporate stated late Wednesday that whereas it “engages in discussions with potential strategic partners and/or investors from time to time, the company notes that there is no agreement in place with a potential investor at this time.”